A lot of downward pressure over the past couple of months. BTC looks like it might be setting up to break out to the upside for a short run. The trend is still bearish, but short term we could see a bullish breakout.
Note
We saw the original setup breakout, successfully backtest, and move up yesterday. With the news of 
TSLA selling off 75% of their position to increase cash holdings, we fell back into the original pattern. Currently appears to be attempting a test of that horizontal resistance again. We will see if it can break.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.